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Early payout option

patrickcharlie

By patrickcharlie
in My Fiverr Experience

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patrickcharlie Enthusiast

patrickcharlie

Posted
Posted

I just got the option yesterday, and I love it, I will gladly pay 1% more in fees to get the money so much quicker!

Helps with the cashflow, makes life easier!
I look forward to more new features like this one!

english_voice Collaborator

english_voice

Posted
Posted

It’s a personal thing, but I just don’t get it.

As a UK based seller I already pay 20% to Fiverr (no problem with that), I lose a further 9% in PayPal exchange rate / fees, I have to pay another 22% (approximately) in UK tax and national insurance… why would I want to lose yet another percentage point?

Approximately half of my gig price is already lost in fees, tax and insurance.

Charging 1% to withdraw funds quicker is just another way for us sellers to lose even more of our hard-earned income.

patrickcharlie Enthusiast

patrickcharlie

Posted
  • Author
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Where we can find this option?

It is still a beta function, so not everyone has it, some people got it a month or two back. But I sure hope this will stay!

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patrickcharlie Enthusiast

patrickcharlie

Posted
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It’s a personal thing, but I just don’t get it.

As a UK based seller I already pay 20% to Fiverr (no problem with that), I lose a further 9% in PayPal exchange rate / fees, I have to pay another 22% (approximately) in UK tax and national insurance… why would I want to lose yet another percentage point?

Approximately half of my gig price is already lost in fees, tax and insurance.

Charging 1% to withdraw funds quicker is just another way for us sellers to lose even more of our hard-earned income.

As you said it is kind of a preference thing.

Personally I would love a scheme similar to Upwork where your fees go down based on your revenue with one client, so if 1 client spends more than 2k it goes down to 10% if you have more than 10k revenue it is lowered to 5%. Another great thing would be a lowered fee for top-rated and/or Pro sellers.

Now, as you mentioned, I am ok with the 20% in general, because that is money I save on marketing, escrow services etc., for me personally the early payout is a great option, since you can instantly boost cash flow if needed (resellers will be very happy about this), and you, of course, do not have to take advantage of it.

I do get your point tho, I do not pay remotely that much in taxes ( I pay a fixed amount) + Fiverr amounts to about 35-40% of my total revenue, so I do not “lose” as much. That being said, I am sure your pension will be quite a bit better than mine 😃

So as long as we get features that we aren’t forced to use, I am very happy.

enamul_mkt Rising Star

enamul_mkt

Posted
Posted

Yes, I think it’s a good feature to get paid in need of emergency cash.

As per my observation, you will avail of this feature for order when the client accepts your work. If the client miss to accept the order and marked automatically completed then you will not get the early payout option.

patrickcharlie Enthusiast

patrickcharlie

Posted
  • Author
Posted

Yes, I think it’s a good feature to get paid in need of emergency cash.

As per my observation, you will avail of this feature for order when the client accepts your work. If the client miss to accept the order and marked automatically completed then you will not get the early payout option.

As per my observation, you will avail of this feature for order when the client accepts your work. If the client miss to accept the order and marked automatically completed then you will not get the early payout option.

That is not how it works, I have the option for 2 orders that were closed automatically, so probably just happens to be this way in your case 🙂

patrickcharlie Enthusiast

patrickcharlie

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You might want to go back and blur this image again buddy, we can still see/make out your withdrawn amount…

Thanks for the tip, yeah, I don’t really care if people can make it out, just didn’t want it to look like I am bragging or discourage others or whatever 🙂

izah_moh Proficient

izah_moh

Posted
Posted

Thanks for the tip, yeah, I don’t really care if people can make it out, just didn’t want it to look like I am bragging or discourage others or whatever 🙂

That’s very thoughtful of you!

patrickcharlie Enthusiast

patrickcharlie

Posted
  • Author
Posted

I have had this feature since the beginning, but like @english_voice, I would rather keep my 1% even though I do not pay any PayPal fees.

I personally use Payoneer (and I recommend it highly, since it takes a tiny fraction of what paypal takes).

The way I see it is, if I pay 100 USD in fees to Fiverr, I am more than ok paying 5 USD more to get the money 14 days faster (if I need it), of course with time as you grow and build up capital this becomes less relevant.

I consider it a “nice to have” option, definitely would not use it all the time, but more as an emergency measure it gives you a lot of advantage at a minuscule cost:)

vickiespencer Grand Master

vickiespencer

Posted
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I personally use Payoneer (and I recommend it highly, since it takes a tiny fraction of what paypal takes).

The way I see it is, if I pay 100 USD in fees to Fiverr, I am more than ok paying 5 USD more to get the money 14 days faster (if I need it), of course with time as you grow and build up capital this becomes less relevant.

I consider it a “nice to have” option, definitely would not use it all the time, but more as an emergency measure it gives you a lot of advantage at a minuscule cost:)

Great!

Maybe it’s only for TRS.

Nope, I am not a TRS even though I qualified months ago. Neither is becoming a TRS a goal of mine. I am content with the work and regular clients I have.

I personally use Payoneer

I tried it for a time but went back to PayPal when they started charging US people no fees.

patrickcharlie Enthusiast

patrickcharlie

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I am not TR yet, so I don’t think so :)=

Maybe it is for people based in a specific country or level

It is a beta feature sporadically being rolled out, beta features are often first presented to older sellers and sellers who have a CS manager for example, as that provides Fiverr with the most valuable feedback (/hence this post in show of support) 🙂

tech_treon Rookie

tech_treon

Posted
Posted

It is a beta feature sporadically being rolled out, beta features are often first presented to older sellers and sellers who have a CS manager for example, as that provides Fiverr with the most valuable feedback (/hence this post in show of support) 🙂

Ok, got it, thanks for the info

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